PwC, one of the leading consulting firms in the world, has projected that Nigeria’s Entertainment and Media (E &M) industry’s revenue will rise from $7.68 billion in 2021 to $14.82 billion in 2025. In its latest industry report titled “Perspectives from the Global Entertainment & Media Outlook 2021-2025”, PwC says internet access, a major segment in the E & M industry, will generate 85 percent of the country’s E & M revenue by 2025, insights gained from the report have revealed.
The total revenue that will be generated by all the players in the Nigeria’s E & M’s industry is expected to rise from $7.68 billion in 2021 to $9.03 billion in 2022, to $10.66 billion in 2023, and will increase further to $12.56 billion in 2024 before settling at $14.82 billion by 2025, culminating to an average growth rate of 18 percent during the period.
Internet access segment’s revenue accounts for 78 percent of the country’s E & M industry revenue in 2021, a noticeable improvement on the revenue made in 2016 when it accounted for 61 percent of the E & M industry’s revenue in Nigeria…
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